Published:
Bank lending up 1.7% in February
Thanks to the strong growth in business loans.
Banks and financial institutions in Singapore enjoyed significant gains in loans in February, recording a 1.7% increase to $627.4b from $617.1b in January.
On a yearly basis, bank lending registered a 5.2% growth from $596.2b.
The growth was driven mainly by loans to businesses, which over the said month grew 2.7% to $376.6b.
Loans to building and construction, general commerce, and financial institutions increased significantly in the said period.
Meanwhile, consumer loans registered a measly 0.2% growth to $250.9b.
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